If the Colts and Peyton Manning don’t have a deal worked out by the time the CBA expires, he will be tagged. It’s insurance that ties the team to the quarterback, but it’s not as if he’s going anywhere. They’ll find a long-term deal. If it’s not before the CBA expires, it’ll be soon after a new one’s agreed on. Is it risky to do it before? Well, if there is some sort of major change in salary cap mechanics or bonus proration, yes. But are those issues or elements of the expiring deal that have worked OK and will likely be maintained?

2011 Projected Franchise Tender: $17.095M. Adds McIntyre: “Because Manning’s 2010 salary number ($19.266M) is higher than the average of the top five at the position, his franchise tag number will be $23.12 million, 120 percent of his 2010 salary.”